Transfer of certain assets and liabilities of the State Housing Board to the Board.

(1) All property, assets, rights and liabilities of the State Housing Board shall, in so far as such property, assets rights and liabilities are related immediately before the date of the establishment of the Board to the improvement of the slum area, the clearance of the slum area and the re-development of the slum clearance area, stand transferred to and vested in the Board.

(2) (a) If any dispute arises whether any property, assets, rights and liabilities stand transferred to and vested in the Board under sub-section (1), the dispute shall be referred to the decision of the Government and their decision shall be final.